Installment Loans for Bad Credit

Many Americans have poor credit or credit history. All it takes is just one error to hurt your credit score. If a larger, unforeseen event disrupts your cash flow, your credit rating could be impacted more significantly. It’s important to know the basics of a credit score, how to check your score, and what to do in the event of a cash emergency if you have bad credit.

What is a credit score?

Your credit score is a report issued by a credit reporting agency (e.g. Equifax, Experian and TransUnion) to assess and predict your responsibility to manage and repay your credit obligations. A credit score can be as low as 300 and as high as 850. While there are various credit scores that exist, the most notable and commonly-referred to is your FICO score. To get your score, you can purchase a report directly from one of the credit reporting agencies, or you can get a free credit report from various sources including annualcreditreport.com.

How do I know if I have bad credit?

A good way to find out if you have credit issues that could impact your ability to get cash from a loan is to review your credit score from one of the agencies listed above. Different agencies model the various credit ratings (i.e., Excellent, Good, Fair, Poor, etc.) in slightly varying ranges, but you should be able to find out where you fall on this spectrum by pulling your credit report.

I have a bad score, but I need cash. What do I do?

A bad score may be no fault of your own. Unfortunately, emergencies don’t care if you are experiencing a financially vulnerable time. Plus, just as you need cash the most, many traditional lenders may turn you down if you have bad credit, and millions of Americans’ credit scores are scattered throughout the credit spectrum. So what about potentially you and millions of other Americans who may find it difficult to secure a loan due to bad credit? Fortunately, there are resources like Jora who can help.

Jora can help those with bad credit

Jora offers online installment loans for all types of people–including those with bad credit. As long as you can show a source of income like a job and can provide some basic personal and financial information, we may be able to help.

Just fill out our fast and secure online loan application. If approved, have your cash waiting in your bank account as soon as the next business day.*

Because Jora provides installment loans, your loan can be paid back in a series of regularly scheduled payments, or installments, until the loan is paid back in full.

Responsibly paying your loan may improve bad credit

How you manage to pay back your installment loan from Jora could help improve your credit score and eliminate bad debt in the future. Around 35% of your overall FICO credit score is based on your payment history.** By making consistent on-time payments on your approved installment loan, you can demonstrate a responsible credit history that can help increase your credit score over time.

Emergencies can happen at any time that can cause a strain on your finances. Jora is there for you, offering the assistance you need to manage financial emergencies and to get your life back on track quickly and responsibly.

TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY CONTACT:
Complaints Manager in WRITING at P.O. Box 8407 Philadelphia, PA 19101; EMAIL at Complaints@JoraCredit.com; or by CALLING1-888-256-6083.1-888-256-6083.

This is an expensive form of credit. Alternative forms of credit, such as a credit card cash advance, personal loan, home equity line of credit, existing savings or borrowing from a friend or relative, may be less expensive and more suitable for your financial needs. Before borrowing, please consider whether you will be able to repay any amount you borrow along with the Finance Charges disclosed to you in your Agreement. Customers with continued credit difficulties should seek credit counseling.

1First-time customers typically qualify for credit in amounts between $500 and $2,600, with APRs between 170% and 349%. For example, in Missouri a $2,000 installment loan from Jora would require 48 bi-weekly payments of $179.54, which includes $6,618.50 of interest and an APR of 230%. After the 48th successful payment, the loan would be paid in full. Refer to the What It Costs page for additional details and products specific to your state of residence.

*For Installment Loans; If electronic funding is selected and your loan agreement is signed and submitted prior to 10:30 a.m. Central time (Monday – Friday, excluding bank holidays) the loan will be funded that day. Loan agreements that are signed and submitted after this time will be funded on the next business banking day. Loans selected to fund by paper check take up to 7 to 10 business days to receive. In some cases, we may not be able to verify your application information and may ask you to provide additional documents or information, which can cause funding delays.

For Lines of Credit; If you submit your Cash Advance request prior to 10:30 a.m. Central time (Monday – Friday, excluding bank holidays) your request will be funded that same day. You will have to check with your bank to see exactly when the funds will appear in your account, but it should be there by 5pm your local time. If you submit your Cash Advance request after 10:30 a.m., your request will be funded on the next business banking day. Alternatively, you can request that we send you a paper check by mail, which will take approximately 7 – 10 business days to receive.

Because we may report your payment history to one or more credit bureaus, late or non-payment of your loan or Line of Credit may negatively impact your credit rating. If you fail to repay your Account in accordance with the terms of your Agreement, we may place your Account with or sell your Account to a third-party collection agency or other company that acquires and/or collects delinquent consumer debt.